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Petrobras told by court to rename Lula offshore oilfield as Tupi

  • A Brazilian federal court has ordered Petrobras (PBR -0.7%) to rename the huge Lula offshore oilfield, says Salim Mattar, the special secretary of privatization at the Economy Ministry.
  • Petrobras decided in 2010 to rename its Tupi field as "Lula," which means "squid" in Portuguese and is how former President Luiz Inacio da Silva was known.
  • Mattar says in his Twitter account that the court ruled the name of the oilfield could be seen as a personal promotion to former President Lula.

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